Montana Code 7-12-2137. Procedure for dealing with bid securities
7-12-2137. Procedure for dealing with bid securities. (1) If bids are rejected, the board of county commissioners shall return to the proper parties the bid securities accompanying the rejected bids.
Terms Used In Montana Code 7-12-2137
- board of county commissioners: includes any body or board that under the law is the legislative department of the government of the county. See Montana Code 7-12-2101
- Contract: A legal written agreement that becomes binding when signed.
- county clerk: as used in this part , include any person or officer who is clerk of the board of county commissioners. See Montana Code 7-12-2101
- improvements: as used in this part , include all work or the securing of property, by purchase or otherwise, mentioned in this part and also the construction, reconstruction, maintenance, and repair of any portion of the work. See Montana Code 7-12-2101
(2)The bid security accompanying the accepted proposal or bid must be held by the county clerk until the contract for doing the work has been entered into, either by the lowest bidder or by the owners of over 50% of frontage, at which time the bid security must be returned to the bidder.
(3)If the bidder fails, neglects, or refuses to enter into the contract to perform the work and improvements, then the bid security accompanying the bid must be declared to be forfeited to the board and must be collected by the board and paid into the general fund of the county.